The Public Company Accounting Oversight Board has scheduled an open meeting for 2 p.m. Tuesday, December 9, to consider whether to propose and seek comment on rules related to inspections and investigations of non-U.S. public accounting firms that register with the Board. The meeting will be held in the Chandelier Room at the St. Regis Hotel, 923 16th St., N.W., in Washington, DC.

The Sarbanes-Oxley Act of 2002 directs the Board to establish a registration system and inspection and enforcement programs for accounting firms that audit or play a substantial role in the audits of companies whose securities trade in U.S. markets.

The Board noted in a briefing paper released Oct. 28 that inspection and investigative functions with respect to non-U.S. firms may, in certain circumstances, be carried out through a cooperative approach that would include appropriate roles for both the Board and for a non-U.S. system of oversight. The Board will consider proposing rules designed to facilitate this cooperative approach.

The Board will also consider whether to propose and seek comment on an amendment to its existing registration rules that would extend by 90 days (to July 19, 2004) the deadline for registration of non-U.S. firms.